Raise Financial Services, which operates stock trading platform Dhan, has appointed Amit Gupta as its Group Chief Financial Officer.

With more than two decades of experience in the financial services sector, Gupta will oversee the organization's financial planning, investment decisions, and growth initiatives across all business units, Pravin Jadhav, founder and CEO, Raise, said in a LinkedIn post.

Prior to joining Raise, Gupta worked as Group CFO at Arka Fincap. Previously he worked at Indostar Capital Finance and ICICI Bank.

Jadhav in the post said that Gupta's hiring was prompted after the company reached $100 million in annual recurring revenue (ARR).

"When we hit $10 million revenue, our investors and advisors suggested we get hiring in leaderships roles for finance. We pushed back, said we will first achieve $100 million in revenues and then hire a leader who helps us not just lead finance but joins and helps us scale it to 10X from there," explained Jadhav.

Established in 2021, Raise provides comprehensive wealth management and financial distribution solutions. The company's primary offering, Dhan, targets active and professional traders, competing against Zerodha, Groww, and Upstox.

The firm also operates Upsurge.club, an educational platform for stock market learning, and recently purchased financial content company Filter Coffee to broaden its service portfolio. 

The company secured $22 million in funding during 2022 from investment firms including Mirae Asset Venture, Beenext, and 3one4 Capital.